Is She Worth a Look, or Should I Run in the Other Direction ?

[winterbuoy]

Sent you a PM Rob

[Ex-Calif]

Originally Posted by Rob Toronto

"This boat was originally listed for $70K. We recently had an offer subject to a survey. The surveyor discovered quite a few issues and the purchaser decided not to continue with the survey for the purchase of this boat."

Things that are too good to be true generally are.

Another way to approach. Can you afford a $70k boat?

The owner dropped the price ~$45k.

Buy this boat for $25 and be ready to spend the other $45.

[David_Old_Jersey]

Originally Posted by Rob Toronto

Any opinions, suggestions or insights are appreciated.

If you were already looking for a doer upper, the boat is exactly what you want, aiming for tidy (and sound / solid) not factory fresh and she will be a keeper - plus you have several years to work on her (presuming you are working elsewhere) then - at the right price - maybe ..........but 40 foot is a lot of boat.

Probably you have the skillsets (either already or by learning) - to complete 90%+ of the jobs, just a trade off between time and money for what you actually do vs usuing tradesmen. I wouldn't personally tackle that unless I was prepared to spend at least $30k on her. and would be employing more tradesmen than I would prefer simply for a time saving.

The good news with a refit / refurb project is that the cash doesn't need to be found up front - just have to know it will be coming in over the lifetime of the refit. In any event, IMO the best way to finance a refurb project is from the Vendor - by nailing down on price

If you can look at her would give you a good heads up when inspecting other vessels (pre-survey). Just leave your cheque book at home

[Vasco]

Originally Posted by Rob Toronto

She's in Port Credit. Just listed a couple of days ago.
1974 Hughes 40 THIS BOAT IS BEING SOLD AS IS Sail
I figured seeing that they came down as much as they did, I could have got them to come down a bit more
Let me know if you have a look at her. I'm curious.

Small world, met this boat many years ago on her first trip south, must have been in the early nineties. She got as far as the Chesapeake (Rock Hall if I remember right). Blew the engine, the owner pulled it out and took it back to Toronto in a pick-up. Don't know what happened after that.

[shorebird]

There are just to many boats out there to be stuck with one requiring major structural repairs. Buy a boat that needs repairs and upgrades where your skills will be needed....in other words, structurely bombproof, but needing woodworking, wiring, sails, ect. There are lots of fixer-uppers for sale that require that kind of work, but will survey well for general hull, keel, and structural elements.

" The problem with quotes on the internet is the difficulty in verifying authenticity, as well as crediting its original source"
Abraham Lincoln

[barnakiel]

I would stay away.

I say this because I always judge any 'great price' boat against the viable alternatives. In fact some boats are in such a poor condition that fixing them up would cost WAY more than getting an equivalent, but sound, example.

Seen in this light, only a historical boat would justify otherwise unjustifiable expense and then even only up to a point.

In any case, look for a sound boat and then she can be cosmetically (c--p) - the cosmetics being the easiest, fastest and cheapest thing to fix!

b.

[Seahunter]

I find it interesting how many here have physic boat vision. The only good advice posted here, is to hire a surveyor. The ad merely shows photos with no information other than as is - where is and even if you sailed this particular boat within the last 30 years; it's highly unlikely you'd have first hand experience unless it was yesterday.

[Kalinka1]

Think the one at mimico is solid. don't know the asking$ but they do want to sell. FWIW. Buy something you can sail now and enjoy while upgrading or whatever even if you have to go in the hole a bit rather than buy cheap and have to haul and keep on the yard until she is brought up to snuff. I think this is a sure way to run out of interest and cash.

[Vasco]

Originally Posted by Seahunter

I find it interesting how many here have physic boat vision. The only good advice posted here, is to hire a surveyor. The ad merely shows photos with no information other than as is - where is and even if you sailed this particular boat within the last 30 years; it's highly unlikely you'd have first hand experience unless it was yesterday.

If you had read the posts you'd see a partial list of defects. Here are some of those found by a surveyor. The client called off the survey after the initial findings.

"The partial survey states; "I had inspected the hull, running gear, decks and superstructure when the client arrived...". "There are issues with compressed motor mounts, fuel system, throughulls, the propane stove, DC system and virtually none of the AC system met any required standard."
"Upon beginning the survey of the internal structural elements it was discovered that the main mast support consisted of a corroded steel shoe mounted over a block of wood jammed under the shoe with no means of securement and a transverse steel floor member that was so corroded it could be pulled apart by hand."

[boatman61]

Originally Posted by Seahunter

I find it interesting how many here have physic boat vision. The only good advice posted here, is to hire a surveyor. The ad merely shows photos with no information other than as is - where is and even if you sailed this particular boat within the last 30 years; it's highly unlikely you'd have first hand experience unless it was yesterday.

I don't think a lot of Psychic Ability is required here....
Quote..
The partial survey states; "I had inspected the hull, running gear, decks and superstructure when the client arrived...". "There are issues with compressed motor mounts, fuel system, throughulls, the propane stove, DC system and virtually none of the AC system met any required standard."
"Upon beginning the survey of the internal structural elements it was discovered that the main mast support consisted of a corroded steel shoe mounted over a block of wood jammed under the shoe with no means of securement and a transverse steel floor member that was so corroded it could be pulled apart by hand."
At that point the potential buyer <quite understandably> called off the survey, and withdrew his offer.

When internal metal framework is falling apart to the touch your talking major restoration.. if one piece is like that then the rest is suspect...
If the guy wants a money pit... fine..
but I get the impression he's not...

[Vasco]

Boatman,

Internet is slower crossing the pond.

[Kalinka1]

Oops should have looked at the add first. This is the one that was/is at Mimico. You could ask Bristol for an estimate of costs then proceed from there with an offer or not.

[boatman61]

Vasco.... or you've the faster finger...

[limejucer]

Of course when the valuble items listed include the highly important 10 cd auto changer you wonder why the unimportant through hull is missed. Run man run

[alan_za]

I would be wary, simply because the owner listed it for $70k probably knowing full well about these major issues - doesn't speak well of his character.